On this episode of "Shared Accounts With CU Times," Louisiana Corporate Credit Union (LaCorp) President/CEO David Savoie joins us to discuss a few of the shortcomings he's been observing in the credit union merger approval process.
Drawing upon over 25 years of experience as CEO of LaCorp, as well as a past career as an NCUA examiner, Savoie shares why credit union leaders should be questioning certain practices that have become more common during merger transitions. These include a lack of transparency as credit unions communicate the benefits of an impending merger to members, and even denying members the opportunity to vote on whether they approve of a proposed merger.
Savoie also talks about how he came to lead a corporate credit union after years with the NCUA; his decades of service with the U.S. Navy, including his time spent at Guantanamo Bay; what makes a successful credit union merger; and what he'd change about the NCUA's corporate credit union regulations if given the chance.
With credit union mergers continuing at a steady pace, this episode spotlights an important conversation that everyone in the industry should be having. Take a listen!
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
